Blog Entries Tagged as innovation

Let the Games Begin: BevStar 2013 Call for Entries

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Category: General Blogs  |  Tags: innovation

With the dawn of a new year comes a new chance for your brand to shine. Whether you're playing in the alcohol or non-alcohol space (or both even), you are cordially invited to submit your product to our third-annual BevStar Awards competition. It's our annual celebration of innovation across all of the major beverage categories. And the best part? It's absolutely free to enter, aside from whatever shipping costs you need to incur to get a sample of your product to our judging team.

Since this is about innovation, we ask that your product be new(ish). That means it should have been launched no earlier than Sept. 2011. If it hasn't been launched yet, that's fine. As long as you've got a product, a package and a plan to roll it out before summer 2013, it's eligible. (The product has to exist. Ideation is great, but execution is critical.)

Once again, we'll be awarding gold, silver and bronze awards in the following categories:

• Carbonated Soft Drinks

• Water/Enhanced Water

• Functional Beverages (including sports drinks, but not including energy drinks—those get their own category. We got a ton of energy entries last year.)

• Energy Drinks

• Beer

• Mead, Cider and Sake

• Wine

• Spirits

• Ready-to-Drink Tea & Coffee

We'll also present special achievement awards for marketing innovation, social media initiatives and environmental sustainability.

To enter, please e-mail the following to bevstar@beverageworld.com :

1. Product Name

2. Parent Company Name

3. Contact Info (address, phone & e-mail)

4. High-resolution product image

5. A brief description of the product and why you believe it should win a BevStar award.

6. The names of any packaging, label design, ingredient and branding companies or individuals that helped develop or market your product.

If your product passes the written test, we'll send you instructions on where to ship product samples for the practical test. We ask that you limit the samples to one bottle/can/carton/etc. per product entered.

Keep in mind, tasting is only one component of our selection process. Your product has to offer the whole package, which includes, well, the package and its overall market positioning.

The submission deadline is March 1. Winners will be notified by June 1 and we'll showcase winning products in the July 2013 issue of Beverage World.

If you've got any questions you can e-mail me directly.

We're looking forward to your entries!

 

 

 

 

Beverage Branding Fit for a Dragon

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Category: General Blogs  |  Tags: innovation

 

I came across a program while in the U.K. called “Dragons’ Den,” which is similar to the U.S.’s “Shark Tank” that airs on ABC. The dragons, like the sharks, are big time moneymakers in their respective industries and are looking for their next big investment. On this episode of “Dragons’ Den,” two men, Padrig and Dewi, present their toffee-flavored vodka, Toffoc, to the panel and ask for a £75,000 investment to help expand their brand. 

Though Padrig and Dewi had the backing of Michelin-starred celebrity chef Gary Rhodes, they revealed to the dragons that while the Anglesey-based company made a profit in its first year, the following two were not profitable. Dragon Hilary Devey, an English television star responds, “Well, something is wrong there isn’t it.”

Another dragon, Peter Jones, founder of the U.K.’s first Enterprise Academy, asks why Rhodes’ name isn’t on the bottle and how much he’s invested in the brand. His advice: “Get your celebrity endorser to do more work for you.”

The duo came up with the idea to create a toffee-flavored vodka about eight years ago while skiing in the French Alps. The spirit, apparently, is a popular drink choice among skiers there. This particular brand is available in Wales and retails for about £15 for a 70cl bottle, according to its website. The vodka, along with apparel and other swag items, also is available for purchase online. It is triple-distilled U.K. grain vodka that is infused with toffee that results in a clear, golden-hued liquid.

The dragons got to sample the vodka and most seemed impressed with the flavor and quality, remarking that the smell and taste were good. However, none of the five dragons were interested in investing in the brand. In the drinks industry we’ve seen scenarios like this before. A new product that is struggling to get the word out, partners with a celebrity or a pop culture entity, and then what? Does celebrity affiliation automatically equal success? 

That depends on the celebrity and the brand. I recall going to a Sopranos wine tasting at the Trump World Tower in New York City a few years ago. It was for a range of Italian wines that were branded with “The Sopranos” TV series that aired on HBO. While there was a lot of hype surrounding the brand at the time produced by The Sopranos Wine Co./Vesuvio Import Co. the buzz seemed to fizzle out with the show. 

On the other hand, take brands like Ciroc with P Diddy or Jim Beam’s Red Stag and its affiliation with Kid Rock. Those are two good examples of celebrity done right. That’s because these celebrities do more than just attach their name to a new brand, they embody that brand, they live it and they represent what that brand stands for. In turn, consumers that relate to a particular lifestyle—luxury or rock ’n’ roll in this case—directly relate to that brand.

While Padrig and Dewi seemed reluctant to get Rhodes more involved in their brand, saying that it was “their toffee” and not Rhodes, Jones was on target with his advice. A successful celebrity endorsement needs more than just a face or a name printed on a sell sheet; it requires an authenticity that consumers won’t compromise on—and neither will the dragons.